In the past, there have been a number of unsuccessful attempts to produce threaded parts in a punch press to eliminate the need for tapping. The advantages of that type of thread forming are apparent, primarily lying in the increased production rates made possible with attendant reduction in the manufacturing costs. Although several impractical prior proposals have been made for accomplishing stamped, threaded parts, this type of operation can be accomplished successfully by the arrangement described in our earlier U.S. Pat. No. 4,266,310. This produces acceptable threaded parts by a punch press operation, but may necessitate relatively complex tooling. In addition, the required press tonnage in some instances may be undesirably large. Certain metals, such as stainless steel, cannot be threaded successfully by this technique.